The Collingwood Elvis Festival will need to change hands next year.
On Monday evening, council voted unanimously that the town will not put any money into, or run, the event after this year's.
Staff made the recommendation based on continued budget shortfalls and declining attendance over the years.
The latest staff report says an independent operator has indicated a desire to take over the Elvis Festival in 2020 and hold it on the same weekend as it has been traditionally held with some of the signature events staying.
But council did defer a recommendation for the town to help with the transition to a new operator. Councillors want more information including whether a competitive process is necessary to ensure the best organizer is found.
The money the town has spent on the Collingwood Elvis Festival, about 50 thousand dollars a year, will be part of budget discussions in 2020 as to where the money should be best spent.